The following learning outcomes will be tested in this assessment: 1 Critical understanding of advanced marketing strategy and its significance in variety of contexts (global and local). 2 Assessment of the drivers affecting choice and implementation of marketing strategy. 3 Evaluation and application of appropriate theories and models underpinning the strategic marketing process in an organisation. 4 Evaluation of strategic options and planning of effective strategic marketing programmes for survival and sustenance of different organisations (public sector and private sector). Skills 5 The ability to develop appropriate research and analytical skills 6 Creative, innovative, critical thinking and effective communication of complex ideas.
Assessment – BYD Energy – Strategic Marketing Evaluation.
Introduction BYD (Build Your Dreams) Energy is a high-tech company devoted to technological innovation for a better life. They aim at building efficient, safe and stable storage solutions for renewable energy. From energy generation and storage to its application, BYD energy is dedicated to providing zero-emission energy solutions. Their energy slogan is ‘New Energy Give us a new future’. Their products include battery-box low and high voltage for residential and commercial purposes, large scale battery projects in many countries. The brand mission is the provision of non-toxic energy with zero emission and zero pollution. Their core values are excellence, pragmatism, passion and innovation. Source: http://en.byd.com/usa/energy/ Task – Analysis of strategic marketing context and critical evaluation of challenges to successful Strategic Marketing By building on your understanding of strategic marketing theory and undertaking secondary research into the company, market and sector, you are required to analyse BYD’s Energy’s marketing strategy, evaluate its success and examine its strategic marketing options, planning & challenges in the future. To underpin your analysis of the company’s strategic marketing you must APPLY selected elements of theory covered in this module – note you must determine which are critically important to the company’s success and focus on these. You must: Apply appropriate strategic marketing theory and models to examine the sector, the market and the company using suitable academic articles and texts. Apply appropriate strategic marketing theory and models to evaluate the challenges facing the company in the future using suitable academic articles and texts. Undertake suitable secondary research into the sector and market using appropriate secondary sources (non-academic) Refer to theory and practice in order to support your strategic marketing assessment. Submit as a written report; Word count is 4,000 words (+/- 10%). Further details will be provided in class and on Canvas Assessment Section. Guidance: The first part of this report (60%) consists of a Situational Analysis focusing on an in-depth examination of the company, competition, customer, collaboration and context. You must undertake*: Critical company analysis of BYD Energy – Examining the company’s mission/vision, Directional and Growth strategies, competences and competitive advantages by applying the Resource-Based View (All 4 areas, with a focus on intangible/ marketing assets). Critical Competitive Analysis – Examining 2 key competitors to provide competitor profiling, strategies, competences and competitive positioning. Critical Customer Analysis – Key target customer segments, behaviours and value sought. Customer behaviours and trends analysis – Critical Strategic Collaboration & Contextual factors/issues from the market context (issues not covered above) – identify and evaluate 2-3 of the most salient factors (e.g. key market structure, trends, etc). Very important – Tables and Appendices MUST be used effectively to demonstrate your evidence and evaluation. You must refer to these in the body of your report. It is suggested that this section is 2,500 words approximately Please note – this is NOT a Corporate/strategic management assignment, and as such should focus on strategic marketing theory, concepts and models rather than generic models (NOT PESTLE, 5 Forces, SWOT). The second part of this report (40%) must analyse BYD Energy’s strategic marketing options and planning in future and must include*: Examination of TWO of the module’s key topics: Innovation Strategies, International Marketing Strategies, Relationship Strategies, Service Strategies, Social & Ethical Strategies. Note – Value is a core concept to emphasise throughout the whole report Consideration of the challenges facing BYD Energy in future This must be integrated into the examination of the above. It is suggested that this section is 1,500 words approximately. You MUST: Refer to suitable theoretical concepts, models and terms to underpin your discussion. Refer to appropriate academic articles and texts relating to strategic marketing and your chosen topics. Use tables and appendices to demonstrate your application of the key academic themes/theory to the (secondary) case evidence to support your evaluations. Please note that the Marketing Mix is not suitable at this level or relevant to this work. Please note that these are not suggested headings/sub-headings and you are advised to determine your own headings to include these points. The above MUST be underpinned by credible supporting evidence (nonacademic secondary) AND application of appropriate strategic marketing .theory, concepts and terms.